New Benchmark Rate definition

New Benchmark Rate means the Successor Benchmark Rate or, as the case may be, the Alternative Benchmark Rate determined in accordance with this § 3(e).

New Benchmark Rate means the Successor Benchmark Rate or, as the case may be, the Alternative Benchmark Rate.

New Benchmark Rate means any substitute or alternative replacement rate (expressed as a percentage rate per annum) to the Original Benchmark Rate determined by the Independent Advisor (in the case of § 3 (2) (e)(i)(A) above) or the Issuer (in the case of § 3 (2) (e)(i)(B) above) in its reasonable discretion as follows:

Examples of New Benchmark Rate in a sentence

• If the independent adviser determines a successor rate or alternative rate (the "New Benchmark Rate"), such rate will replace the previous Benchmark for purposes of determining the relevant rate of interest.

• The Conditions shall be deemed to have been amended by the New Benchmark Rate, the Adjustment Spread and the Benchmark Amendments with effect from the Effective Date.

• If any relevant New Benchmark Rate and the applicable Adjustment Spread are determined in accordance with this§ 3(e), and if the Independent Adviser determines that amendments to these Terms and Conditions are necessary to ensure the proper operation of such New Benchmark Rate and the applicable Adjustment Spread (such amendments, the "Benchmark Amendments"), then the Independent Adviser will determine the Benchmark Amendments and the Issuer will give notice thereof in accordance with§ 3(e)(v).

• The Issuer shall, as soon as this is (in the Issuer's view) required following the occurrence of the Benchmark Event and prior to the next Interest Determination Date, endeavour to appoint an Independent Adviser, who will determine a New Benchmark Rate (as defined in§ 3(e)(vi)), the Adjustment Spread (as defined in § 3(e)(vi)) and any Benchmark Amendments (in accordance with § 3(e)(iv)).

• The Adjustment Spread (as defined in§ 3(d)(viii)) shall be applied to the New Benchmark Rate in order to determine the relevant Reference Rate.

More Definitions of New Benchmark Rate

New Benchmark Rate means the Successor Benchmark Rate or, as the

New Benchmark Rate means the Successor Benchmark Rate or, as the case may be, the Alternative Bench- mark Rate determined in accord- ance with this § 3(d).

New Benchmark Rate means the Successor Benchmark Rate or, as the caseNachfolge-Benchmarksatz bzw. Alternativ-Benchmarksatz.

New Benchmark Rate means has the meaning set out in§ 4(2)(e)(vi)

New Benchmark Rate means the Suc- cessor Benchmark Rate or, as the case may be, the Alternative Benchmark Rate deter- mined in accordance with this clause 4.2(d)

New Benchmark Rate means the Successor Benchmark Rate or, as the case may be, the Al- ternative Benchmark Rate determined in ac- cordance with this § 3(2)(b).

New Benchmark Rate means the Successor Benchmark Rate or, as the casemay be, the Alternative Benchmark Rate. "Relevant Nominating Body" means, in respect of the replacement of the Original Benchmark Rate: (i) the central bank for the currency to which the Original Benchmark Rate relates, or any central bank or other supervisory authority which is responsible for supervising the administrator of the Original Benchmark Rate; or (ii) any working group or committee sponsored by, chaired or co-chaired by or constituted at the request of (I) the central bank for the currency to which the Original Benchmark Rate relates, (II) any central bank or other supervisory authority which is responsible for supervising the administrator of the Original Benchmark Rate, (III) a group of the aforementioned central banks or other supervisory authorities or (IV) the Financial Stability Board or any part thereof. "Effective Date" has the meaning specified in § 3(3)(g). "Independent Advisor" means an independent financial institution of international repute or other independent financial advisor experienced in the international capital markets, in each case appointed by the Issuer. (g) The effective date for the application of this § 3(3) (the "Effective Date") will be: (i) if the Benchmark Event has occurred as a result of clause (i) of the definition of the term "Benchmark Event", the date of the public statement by the supervisor of the Administrator of the Original Benchmark Rate; or (ii) if the Benchmark Event has occurred as a result of clause (ii) of the definition of the term "Benchmark Event", the date of the occurrence of the Benchmark Event; or (iii) if the Benchmark Event has occurred as a result of clause (iii) or (iv) of the definition of the term "Benchmark Event", the date of cessation of publication of the Original Benchmark Rate or of the discontinuation of the Original Benchmark Rate, as the case may be; or (iv) if the Benchmark Event has occurred as a result of clause (v) or (vi) of the definition of the term "Benchmark Event", the date from which the prohibition applies. (h) If a Benchmark Event occurs in relation to any New Benchmark Rate, § 3(3) shall apply mutatis mutandis to the replacement of such New Benchmark Rate by any new Successor Benchmark Rate or Alternative Benchmark Rate, as the case may be. (i) Notwithstanding § 3 (3)(b), if the Independent Advisor appointed by the Issuer fails to determine a New Benchmark Rate prior to the date which is five (5) Business Days p...